Yglesias

Unemployment Passes 10 Percent

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CREDIT:

More bad news on the labor market front:

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Takeaways: One, people need to stop worrying about inflation. Two, the federal government should deploy more aid to state and local governments. Three, instead of easing up on the easing of monetary policy the Fed needs to ease even more, probably by taking some advice from Scott Sumner about ways this is possible.